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Germany's Inflation Accelerates In 2017

Germany's consumer price inflation accelerated to a five-year high in 2017, final data published by Destatis showed Tuesday.

Consumer price inflation climbed to 1.8 percent in 2017 from 0.5 percent a year ago. This was the highest rate since 2012. Between 2014 and 2016, the inflation rates were even below one percent each.

The corresponding harmonized inflation figure surged to 1.7 percent from 0.4 percent.

The marked increase in CPI inflation in 2017 was mainly due to energy prices. Energy prices increased 3.1 percent in 2017 after they had declined in the previous three years.

In December, consumer price inflation eased to 1.7 percent from 1.8 percent. The rate came in line with the preliminary estimate.

Month-on-month, inflation doubled to 0.6 percent, as estimated, from 0.3 percent.

Inflation, based on the harmonized index of consumer prices, which is calculated for European purposes, slowed to 1.6 percent from 1.8 percent in November. On month, the HICP gained 0.8 percent.

The statistical office confirmed the provisional estimate published on December 29.

In 2017, wholesale prices logged an annual growth of 3.5 percent, Destatis said in a separate communique.

The wholesale price index advanced 1.8 percent year-on-year in December, but slower than November's 3.3 percent increase. This was the weakest increase since November 2016.

On a monthly basis, wholesale prices fell 0.3 percent in December, in contrast to November's 0.5 percent increase.

by RTTNews Staff Writer

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